If you are considering buying your first home, it is important to seek professional advice. Buying your first property is an exciting step, but there are potential pitfalls that can be avoided with the right guidance. As a first-time buyer you need to be realistic about what you can afford before you start looking at properties. It is wise to take a comprehensive look at your finances and work out a feasible budget. Buying a home is one of the most important financial outlays any of us will ever make, and there is no substitute for careful research and analysis before you make an offer.
Aside from your monthly mortgage payments, you need to take other outgoings into account. You will have to allow for mortgage arrangement and valuation fees, along with stamp duty and survey costs. When you begin viewing properties it can be helpful to take experienced home buyers with you. They will be able to advise you on things to look for in and around the property. Houses can conceal defects and other issues that can lead to problems and expense further down the line.
It is also wise to look into the area and the local amenities it offers. Locations with popular bars, restaurants, retail establishments and good local schools are always highly sought after investments which will benefit you when the time comes to sell. This of course may mean a higher purchase price. You should also consider the changes to your daily commute and the availability of convenient transport links. Commuting is undeniably costly so you may wish to consider finding a property that is as close to your place of work as possible. Further expenses to consider are possible work that may need to be carried out such as minor repairs as well as your furnishings and decorating.
There is a wide range of mortgages available so it is important that you select the right one for you. As independent financial advisors in Middlesbrough, we specialise in offering consummately professional support and guidance. We provide a personalised service for everyone and ensure you are fully informed and prepared before you enter into a mortgage. We can assist you throughout the entire process and provide you with all the information you need